debt settlement

Hi Donna

You can negotiate with your creditors at the best possible way and convince him that you are willing to pay the said debt. On the other hand, the creditor will appreciate your responsibility and will gladly reduce the financial charges and other late fees. This negotiation is done within both of you for the settlement of the account.

But, when the creditors will report this account in your credit report, you need to be very cautious and should be aware of how will they be reporting it. Your prime objective should be to make that account shown as "Paid in Full" or "Paid as Agreed" in your credit report. Never accept "Settled" for any account as it will hurt your credit severely.